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First Coin Shop?

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jpsned's Avatar
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 Posted 11/23/2014  8:57 pm Show Profile   Bookmark this topic Add jpsned to your friends list Get a Link to this Message Number of Subscribers
Does anyone know when the first U. S. coin shop or retailer went into business?
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0xDA71D's Avatar
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 Posted 11/23/2014  9:16 pm  Show Profile   Bookmark this reply Add 0xDA71D to your friends list Get a Link to this Reply
Technically the US mint is a coin shop right?
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Fuzzy317's Avatar
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 Posted 11/23/2014  9:27 pm  Show Profile   Bookmark this reply Add Fuzzy317 to your friends list Get a Link to this Reply
The mint does have a shop these days, but its probably more considered a manufacturer of coins.
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 Posted 11/23/2014  10:16 pm  Show Profile   Bookmark this reply Add jpsned to your friends list Get a Link to this Reply
I mean a private, for-profit business that makes money selling coins to collectors.

In case I needed to spell that out.
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 Posted 11/24/2014  02:41 am  Show Profile   Bookmark this reply Add westcoin to your friends list Get a Link to this Reply
There are dealers from the 1830's in the USA, whether or not they had shops is doubtful, they probably began as sideline business to antique shops.

Adam Eckfeldt had a nice collection in 1840 that he donated to the US Cabinet collection at the US Mint in Philidelphia.

At one time Dave Bowers credits Edward Cogan who set up shop in 1858 and ran through 1879 when he retired, as the first coin dealer, though as more research was done, especially for his book "American Numismatics Before the Civil War:" he now writes the following:

Quote:
"Probably, most leading American cities in the East had one or more dealers offering rare coins for sale in the 1850s. ... In the late 1840s, John Brady owned the Old Maryland Curiosity Shope, 105 East Baltimore Street, Baltimore, which proclaimed itself as: "Oldest established in the city, where may be obtained rare old books, coins, medals, .... Old books and coins bought."


Bowers reports that "The first American numismatic auction sale of importance featured the cabinet of Dr. Lewis Roper of Philadelphia." which took place in 1851. This was a 24 page catalog featuring 654 coin lots and 45 autograph lots. The total realized bids were $1,172.47. An uncirculated 1793 chain sent realized all of 10 cents!

Here is a link to a neat article from PCGS on a very early price list (1860 Greysheet) if you will.

http://www.pcgs.com/Research_Archiv...wnPriceList/
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013!
ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2˘ variety collector.

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 Posted 11/24/2014  10:23 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
That could be a rather vague thing. Very possibly there were many stores that sold coins a long time ago. However, just as today, probably many also sold many other items. Sort of like a Hobby Lobby store. All the so called coin stores I've ever seen, also sell other items, not just coins or coin collecting items. One I know of also sells antique items from hundreds to thousands of years ago. One I know of sells sporting items like old baseballs. It is rather difficult today or anytime in the past to just sell one item or one type of item. If you look around you would see that possibly every store sells something other than what they appear to specialize in.
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 Posted 11/24/2014  11:13 am  Show Profile   Bookmark this reply Add jpsned to your friends list Get a Link to this Reply

Quote:
All the so called coin stores I've ever seen, also sell other items, not just coins or coin collecting items. One I know of also sells antique items from hundreds to thousands of years ago. One I know of sells sporting items like old baseballs. It is rather difficult today or anytime in the past to just sell one item or one type of item. If you look around you would see that possibly every store sells something other than what they appear to specialize in.


I have seen many stores like that, but I have also seen many stores that do sell just coins and coin collecting supplies. There's even one in my small western MA town. And I used to go to two in central NJ that sold just coins as well.
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 Posted 12/02/2014  05:24 am  Show Profile   Bookmark this reply Add westcoin to your friends list Get a Link to this Reply
Found another interesting report on one of the earliest coin sales in the USA in the E-sylum archive while I was researching another topic, thought
I'd share it here in this thread.

The E-Sylum: Volume 2, Number 8, February 22, 1999, Article 6

CONTEMPORARY REPORT OF AN EARLY COIN SALE

In the "Show-N-Tell" category, here's an interesting account
from an unnamed and undated newspaper article pasted onto
the endpapers of my copy of the 1846 book by William Du Bois,
"Pledges of History." The book is the first record of the cabinet
of coins at the U.S. Mint in Philadelphia. The article describes
a coin sale, probably the March 25, 1862 sale of the John K.
Wiggin collection by Edward Cogan in Philadelphia:

"RARE AMERICAN COINS AND MEDALS - A
NOVEL SALE

A sale somewhat curious and interesting took place, a few
evenings ago, in Tenth street, consisting of nine hundred and
eighty lots of rare American coins and medals. Mr. William
C. Cook acted as auctioneer. The bidding was very spirited,
especially for the finer pieces. Among the numismatoloists
present we noticed Messrs. Strawbridge, and McCoy, of
New York, Mr. Cohen, of Baltimore, Leavitt, of Cincinnati,
Chambers, of Providence, Bertah, of Mauch Chunk; and of
Philadelphia, Messrs. Coffin, Zehnder, Jenks, Mickle,
Cauffman, Emlen, Moneita, Potts, Humphries, Jones, Nipper,
Clarke, Cline, and others. Below we give prices of some of
the finer pieces, which no doubt will prove interesting to
many of our readers."

The article went on to list prices of fifty-seven lots. Top bids
were for a 1796 Half Dollar "remarkably fine and rare," $28,
an 1854 proof set, $21, an "excellent impression" of a 1799 cent,
$14, and a 1794 Half Dime "proof, very rare," $8.13. The
account is an interesting window into the golden age of
American numismatics. Although the reporter misspelled many
of the names, they are still recognizable as including the major
numismatic figures of the day. What fun we "numismatoloists" of
today would have if we could be transported back to that sale.
Pleasant dreams...
Wayne Homren, Editor
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013!
ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2˘ variety collector.

See my want page: http://goccf.com/t/140440
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